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  1. Overview: South Dakota State Constitutional Convention 1889
  2. Full Record: South Dakota State Constitutional Convention 1889
  3. Committee:The Convention
  4. Session: 1889-08-03 09:00:00
  5. Event type: CREATE

South Dakota State Constitutional Convention 1889

Following the rejected 'Sioux Falls' Convention of 1885, the South Dakota Convention met and began the drafting process in July of 1889. They used the articles of the Sioux Falls Convention as starting propositions to begin the amendment process. The South Dakota Constitution was ratified in October 1889.

The Convention

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Document introduced in:

Session 15982: 1889-08-03 09:00:00

A Report from the Committee on State, County and Municipal Indebtedness on Article XIII was adopted. A Resolution on Bond Refunding was adopted. Report of the Committee on Printing regarding the printing of certificate of indebtedness was adopted.

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Resolution on Bond Refunding

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WHEREAS, There are at present outstanding bonds of the Territory of Dakota, aggregating $107,500, of which $77,500 bears five per cent interest, and $30,000 six per cent interest, which are payable at the option of the Territory after May 1, 1888; and

WHEREAS, The Territorial Treasurer has power under the Territorial law to declare said option; and,

WHEREAS, It is the judgment of said Treasurer that it would be possible under the present favorable condition of the bond market to refund said bonds at a much lower rate of interest; therefore, be it

Resolved, By this Convention, that in its judgment, the public welfare would be subserved by such refunding, and that it hereby requests the Territorial Treasurer to take steps looking toward such action; provided, however, that the rate of interest which the refunding bonds shall bear shall not exceed four per cent per annum, and that any premiums secured upon such bonds should inure to the benefit of the general fund of the Territory.

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